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How much do we make (average) compared to other professions?
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OneWayTraffic



Joined: 14 Mar 2005

PostPosted: Wed Nov 23, 2011 6:26 pm    Post subject: Reply with quote

The 21k a year is for the Hagwon and PS jobs. Those can be a foot in the door to the better paying jobs out there. I made 21k a year or less in one year of the eight I spent in Korea. Of course to do that you need something more than the average ESLer has: F2 visa or better, a MATESOL, some business experience or the ability to work a couple of jobs legally.
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PatrickGHBusan



Joined: 24 Jun 2008
Location: Busan (1997-2008) Canada 2008 -

PostPosted: Thu Nov 24, 2011 12:27 pm    Post subject: Reply with quote

As was stated, the savings potential is one thing you should key on.

Also, accomodations HAVE to be factored into your income as does the return flight and severance.

Why?

Accomodations: you would have to pay for this and it would take a large chunk out of your pay so having it provided by an employer is whats called a benefit.

Severance: it raises your monthly income as it typically represents one months pay at the end of the contract.

Flight: its a clear benefit because otherwise YOU would have to pay for it.

I think the initial post by Urban was pretty darn interesting and that the comparison can be a real eye opener for many of us.
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Unposter



Joined: 04 Jun 2006

PostPosted: Thu Nov 24, 2011 5:51 pm    Post subject: Reply with quote

I don't really want to get into this argument but I think these numbers are skewed in some way and I am guess in more than one way.

But, one way is the Seoul/rest of Korea division. Admittedly, it is based on just my relative personal experience but salaries in Seoul are just much higher than listed in the UrbanMyth's link. And, it requires a lot more money to have a "middle class" lifestyle in Seoul.

It is like comparing national averages with what it takes to live in the big cities of the world such as San Francisco, New York, London, Sydney etc... It just does not quite add up.

Most ESL salaries are alright for single people but trying to raise a wife and children on it - well - it won't go far at all. And maybe, to people out in the provences, your salary may seem like a lot but to the professional class of Seoul, they are going to laugh at you.

When I first started work in Korea (at a hakwon), I had the basic ESLers salary and I remember being shocked that female bank tellers made almost 50% more than I did.

I guess it is all relative to your financial needs.
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TheUrbanMyth



Joined: 28 Jan 2003
Location: Retired

PostPosted: Thu Nov 24, 2011 7:13 pm    Post subject: Reply with quote

Unposter wrote:
I don't really want to get into this argument but I think these numbers are skewed in some way and I am guess in more than one way.

But, one way is the Seoul/rest of Korea division. Admittedly, it is based on just my relative personal experience but salaries in Seoul are just much higher than listed in the UrbanMyth's link. And, it requires a lot more money to have a "middle class" lifestyle in Seoul.

It is like comparing national averages with what it takes to live in the big cities of the world such as San Francisco, New York, London, Sydney etc... It just does not quite add up.

Most ESL salaries are alright for single people but trying to raise a wife and children on it - well - it won't go far at all. And maybe, to people out in the provences, your salary may seem like a lot but to the professional class of Seoul, they are going to laugh at you.

When I first started work in Korea (at a hakwon), I had the basic ESLers salary and I remember being shocked that female bank tellers made almost 50% more than I did.

I guess it is all relative to your financial needs.



http://news.mk.co.kr/english/newsRead.php?rss=Y&sc=30800011&year=2011&no=533998

And for comparison purpose just five years ago the gross salary per hour in Seoul was about 10 dollars.

http://search.hankooki.com/times/times_view.php?term=ubs+prices+earnings++&path=hankooki3/times/lpage/biz/200608/kt2006080922393311910.htm&media=kt

I don't think salaries in Seoul overall are as high as you think. Maybe among high-end professional workers but not the rank-and-file.

And notice the ranking. Five years ago they were at 32 now they are at 36th?
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Weigookin74



Joined: 26 Oct 2009

PostPosted: Thu Nov 24, 2011 10:29 pm    Post subject: Reply with quote

21K job a year? You mean dollars? That's whacked. You should get something higher. Plenty of jobs paying more. What's that work out to less than 1.5 mil won a month?

Average experienced job with some renewal allowance and annual salary bonus and free accomodation plus your month salary for 12 months, equals well into the 30's K when converted to dollars. Granted you got to get some experience to command a little higher but not much higher. Recession may be keeping salaries lower, but exchange rate is the killer. If they would go back to pre 2009 levels, my salary would be much higher. Well, thems the breaks. Still better than 21K? Where'd you get that figure from?
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TheUrbanMyth



Joined: 28 Jan 2003
Location: Retired

PostPosted: Thu Nov 24, 2011 10:42 pm    Post subject: Reply with quote

Weigookin74 wrote:
21K job a year? You mean dollars? That's whacked. You should get something higher. Plenty of jobs paying more. What's that work out to less than 1.5 mil won a month?

Average experienced job with some renewal allowance and annual salary bonus and free accomodation plus your month salary for 12 months, equals well into the 30's K when converted to dollars. Granted you got to get some experience to command a little higher but not much higher. Recession may be keeping salaries lower, but exchange rate is the killer. If they would go back to pre 2009 levels, my salary would be much higher. Well, thems the breaks. Still better than 21K? Where'd you get that figure from?


$21848 US when converted into Korean won at TODAY'S rate is better than 25 million won...which is a decent amount for a first timer... however it does not state if they are including housing in that.


Last edited by TheUrbanMyth on Thu Nov 24, 2011 11:16 pm; edited 1 time in total
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ttompatz



Joined: 05 Sep 2005
Location: Kwangju, South Korea

PostPosted: Thu Nov 24, 2011 10:57 pm    Post subject: Reply with quote

Weigookin74 wrote:
21K job a year? You mean dollars? That's whacked. You should get something higher. Plenty of jobs paying more. What's that work out to less than 1.5 mil won a month?


Math check.
US$21,000 = 24 million won or 2.0 million KRW per month (not 1.5).
Entry level wages for entry level qualifications and experience.


My last year TEACHING in a PS (as compared to my current position consulting to the POE) I was earning 3 million per month (110 classes/month) + airfare, housing, medical, pension, 6 weeks paid vacation.
Gross remuneration package value (not wages) of about 50 million KRW (US$43k) per year.

Subtract 12m KRW for entry level (with no overtime) PS jobs bringing the package value down to about 38m KRW or $32k.

Subtract the value of the extra vacation time (often no medical or pension) and overtime (their standard is 120 class hours) for hakwon jobs and the remuneration package value is down to about 30m KRW/yr. (about $25k).

.
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